CVC targets almost €1.5bn return on Danish timber

By

Andrew Dewson

January 17, 2006 5:00 pm GMT

CVC Capital Partners, the European buy-out firm, has put its Danish timber and building materials merchant Danske Traelast up for sale with a price tag of up to Dkr15bn (€2bn), almost four times what it paid for the group in June 2003.

Jyllands-Posten, a Danish newspaper, reports that CVC has hired Deutsche Bank to manage the sale and that the buyer is likely to be another private equity fund.